Act to Save Your Home

You have got to ACT to save your home if you are facing foreclosure.
1. Ask questions
2. Consider Your Options
3. Take action

According to the New York Times, 1 in 11 mortgage holders face loan problems. Foreclosure has increased 93% over the last year and there is a projected increase of 2 million more in 2008. If you want to save your home you must ACT NOW!

Ask questions. Do not avoid your mortgage lender when you face a crisis. Most people are afraid to contact their mortgage lenders for fear they will lose their homes quicker. With our economic crisis in America and with our financial institutions facing a multi-billion dollar bailout, the last thing your lender wants you to do is to go into foreclosure or face bankruptcy. Get on the phone and ASK!

Consider your options. There are several options that can help you to save your home. Your home is worth saving. There are memories there that you love to rehearse when you enter a room or celebrate holidays. You don't want your last memory to be that of foreclosure. In your research, look for key words like loan modification, forbearance agreement or contract. Find out what they mean before you ask so you can make wise decisions regarding what is best for you and your family.

Take action. Do not delay. Pretending the problem does not exist will not make it go away. Time can be your enemy if you delay and your savior if you act quickly before it is too late to salvage your credit or to save the place that holds your life memories...your home.

Once again, the formula is to call you mortgage lender and ask questions; be open to consider your options; and do not delay to take action. You can save your home if you act now.

Article source Author: Jim Pappas